| Chapter 16 Outline |
| I. EMPLOYMENT GROWTH IN THE U.S. ECONOMY |
| A. Definitions and General Comments |
| 1. Employment growth in the United States has exceeded that in both Japan and
six western European countries. |
| 2. Growth in the working-age population in the U.S. relative to other countries helps to explain the employment growth in this country. |
| 3. Increases in the labor-force participation rate in the United States also help to explain the employment growth in this country. |
| a. The labor-force participation rate is the percent of the working-age
population in the labor force. |